|
Report Date : |
11.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
KOLON PLASTICS, INC. |
|
|
|
|
Registered Office : |
64, Gongdan 3-gil, Gimcheon-si, Gyeongsangbuk-do, Korea |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
15.03.1996 |
|
|
|
|
Com. Reg. No.: |
510-81-05710 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Synthetic Resin and Other Plastic Materials |
|
|
|
|
No. of Employees |
210 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but correct |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
SOUTH KOREA ECONOMIC OVERVIEW
South Korea over the past four decades has demonstrated incredible growth and global integration to become a high-tech industrialized economy. In the 1960s, GDP per capita was comparable with levels in the poorer countries of Africa and Asia. In 2004, South Korea joined the trillion-dollar club of world economies, and is currently the world's 12th largest economy. Initially, a system of close government and business ties, including directed credit and import restrictions, made this success possible. The government promoted the import of raw materials and technology at the expense of consumer goods, and encouraged savings and investment over consumption. The Asian financial crisis of 1997-98 exposed longstanding weaknesses in South Korea's development model including high debt/equity ratios and massive short-term foreign borrowing. GDP plunged by 6.9% in 1998, and then recovered by 9% in 1999-2000. South Korea adopted numerous economic reforms following the crisis, including greater openness to foreign investment and imports. Growth moderated to about 4% annually between 2003 and 2007. South Korea's export focused economy was hit hard by the 2008 global economic downturn, but quickly rebounded in subsequent years, reaching 6.3% growth in 2010. The US-Korea Free Trade Agreement was ratified by both governments in 2011 and went into effect in March 2012. Throughout 2012 and 2013 the economy experienced sluggish growth because of market slowdowns in the United States, China, and the Eurozone. The administration in 2014 is likely to face the challenge of balancing heavy reliance on exports with developing domestic-oriented sectors, such as services. The South Korean economy's long term challenges include a rapidly aging population, inflexible labor market, dominance of large conglomerates (chaebols), and heavy reliance on exports, which comprise about half of GDP
|
Source
: CIA |
Basic
|
Company Name |
KOLON PLASTICS, INC. (Trade Name : KPL) (Korean Company Name : “코오롱플라스틱(주)”) |
|
Registered
Address |
64, Gongdan 3-gil, Gimcheon-si, Gyeongsangbuk-do, Korea (Old Address System : 1018, Eungmyeong-dong, Kimcheon-si,
Gyeongsangbuk-do, Korea) |
|
Building |
|
|
Zip Code |
740-180 |
|
Tel |
+82-54-420-8351 |
|
Fax |
+82-54-420-8360 |
|
E-mail |
webmaster@kolonplastics.com |
|
Website |
www.kolonplastics.com |
|
Trading Address |
10th Fl., Kolon Tower Annex, 13, Kolon-ro, Gwacheon-si, Gyeonggi-do, Korea (Old Address System : 10th Fl., Kolon Tower Annex, 1-22, Byeoryang-dong, Gwacheon-si, Gyeonggi-do, Korea) |
|
Tel |
+82-2-3677-3602~9 +82-2-3677-3581~93 |
|
Fax |
+82-2-3677-3558 +82-2-3677-3556 |
|
Other Address |
9, Oedap 6-gil, Sangju-si, Gyeongsangbuk-do, Korea |
|
Tel |
+82-54-533-4023 |
|
Fax |
+82-54-533-4028 |
|
Other Address |
46, Jeondae-ro
16beon-gil, Pogok-eup, Cheoin-gu, Yongin-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-329-0639 |
|
Fax |
+82-31-329-0674 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Synthetic Resin and Other Plastic Materials |
|
Main Business |
Polyoxymethylene Resin |
|
Sub Business |
|
|
Established
(mm/dd/yyyy) |
03/15/1996 |
Detailed Products
|
Activity |
Detailed
Products (UNSPSC) |
|
Sell |
Polyacetal(13111030) |
|
Sell |
Nylon(13111010) |
CEO’s
|
Name |
Chang Hee-Koo |
|
Address |
- |
|
Date of Birth |
02/1959 |
|
Title |
President
& CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
20,300,000,000 |
||||||||||||
|
Employees |
210 |
||||||||||||
|
Formation |
Listed Company(Korea Stock Exchange : 138490) as of 06/15/2011 Foreign Direct Investment Corporation |
||||||||||||
|
Bank Details |
Shinhan
Bank-Kimchen Branch Korea
Development Bank |
||||||||||||
|
Corporate
Registered No. |
171311-0003504 |
||||||||||||
|
Business
Registered No. |
510-81-05710 |
||||||||||||
|
Permit &
Licenses |
03/03/2004 ISO 14001 Int’l Trade No.: 13052780 |
||||||||||||
|
Shareholder
Position |
|
||||||||||||
|
Company
History |
03/15/1996
Incorporated as KTP CO., LTD. 04/26/1998 Registered as a Foreign Direct Investment Corporation 03/09/2005 Increased capital to 63,000,000,000 KRW from 58,500,000,000 KRW 06/02/2008 Changed company name to the present name from
taking over Plastic Business Division from KOLON CORPORATION(110111-0030528) 06/02/2008
Decreased capital to 20,300,000,000 KRW from 63,000,000,000 KRW 12/29/2010
Increased the authorized shares to 100,000,000 shares from 16,000,000 Shares 02/01/2011
Spin off the par value to 1,000 KRW from 5,000 KRW 09/30/2012
Acquired KSI CO., LTD.(171411-0010789) |
||||||||||||
|
|
|
Management
|
Job
Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
President & CEO |
Mr. |
Chang Hee-Koo |
Korean |
1959.02. |
Seoul National
University, Korea |
|
Executive Director |
Mr. |
Kim Jong-Moon |
Korean |
1961.03. |
Sungkyunkwan
University, Korea |
|
Executive Director |
Mr. |
Seo Jin-Cheol |
Korean |
1965.08. |
Chunnam
National University, Korea |
|
Outside Director |
Mr. |
Kim Seung-Il |
Korean |
1952.12. |
Seoul National
University, Korea |
|
Auditor |
Mr. |
Kang Shin-Mok |
Korean |
1956.09. |
Korea
University, Korea |
|
Year / Unit :
KRW |
Sales |
Assets |
Net Income |
|
59,404,397,291 |
213,284,048,498 |
-3,253,689,851 |
|
|
(*)2013 |
222,784,416,084 |
220,176,092,738 |
-2,898,848,378 |
|
(*)2012 |
230,187,953,140 |
208,979,642,378 |
8,913,599,015 |
|
(*)2011 |
209,195,000,717 |
195,514,531,412 |
11,381,354,303 |
|
2010 |
166,087,528,006 |
81,876,704,778 |
9,024,110,733 |
|
2009 |
123,445,642,197 |
67,536,331,706 |
7,929,596,876 |
|
2008 |
84,612,938,289 |
58,929,867,374 |
2,166,455,940 |
|
2007 |
45,161,375,044 |
39,442,059,595 |
4,015,335,581 |
|
2006 |
41,170,508,946 |
39,679,827,625 |
-250,981,038 |
|
2005 |
38,879,348,808 |
45,078,135,067 |
(-)418,099,100
|
|
2004 |
40,417,001,663 |
51,525,745,406 |
544,696,736 |
(*)Figures are based on the K-IFRS
Accounting System.
Financial Description
|
Authorized
Capital(KRW) |
100,000,000,000 |
|
Paid-Up
Capital(KRW) |
29,000,000,000 |
|
Total Issues
Shares |
29,000,000 |
|
Balance Sheet |
|||
|
Unit : Korean
Won |
01/01/2014~03/31/2014 |
As of
12/31/2013 |
As of
12/31/2012 |
|
Total Assets |
213,284,048,498 |
220,176,092,738 |
208,979,642,378 |
|
Current Assets |
91,069,683,956 |
97,118,608,030 |
84,128,575,090 |
|
Cash & Cash Equivalents |
9,245,135,152 |
6,646,767,648 |
6,644,048,525 |
|
Trade Receivables & Other Receivables |
29,258,907,444 |
29,539,800,418 |
25,063,448,151 |
|
Inventories |
51,396,065,405 |
59,503,729,010 |
51,432,762,665 |
|
Other Current Assets |
1,011,107,985 |
1,271,202,414 |
988,315,749 |
|
Deferred Income Tax Credit |
158,467,970 |
157,108,540 |
|
|
Non-Current Assets |
122,214,364,542 |
123,057,484,708 |
124,851,067,288 |
|
Long-Term Trade Receivables & Other Receivables |
1,340,441,356 |
1,182,061,984 |
1,099,571,103 |
|
Marketable Financial Instruments |
1,194,314,979 |
1,194,314,979 |
1,194,314,979 |
|
Non-Current Financial Instruments |
2,000,000 |
2,000,000 |
2,000,000 |
|
Investment_Related Companies |
1,071,265,325 |
1,071,265,325 |
1,071,265,325 |
|
Tangibles |
115,271,995,293 |
116,302,745,989 |
118,013,279,457 |
|
Investment_Real Estates |
|
|
162,513,939 |
|
Intangibles |
3,334,347,589 |
3,305,096,431 |
3,308,122,485 |
|
Total
Liabilities |
127,561,429,802 |
131,049,464,242 |
115,111,828,410 |
|
Current Liabilities |
92,483,183,724 |
96,037,892,020 |
107,537,346,383 |
|
Trade Payables & Other Payables |
30,154,959,068 |
32,773,005,630 |
33,159,195,103 |
|
Short-Term Borrowings |
61,837,616,214 |
63,128,339,021 |
73,646,163,002 |
|
Other Current Liabilities |
490,608,442 |
136,547,369 |
242,054,244 |
|
Deferred Income Tax Credit |
|
|
489,934,034 |
|
Non-Current Liabilities |
35,078,246,078 |
35,011,572,222 |
7,574,482,027 |
|
Long-Term Trade Payables & Other Payables |
|
434,660,616 |
528,000,000 |
|
Long-Term Borrowings |
32,000,000,000 |
32,000,000,000 |
5,000,000,000 |
|
Confirmed Salaries |
3,078,246,078 |
2,576,911,606 |
1,943,978,174 |
|
Deferred Income Tax Credit |
|
|
102,503,853 |
|
Capital Stock |
29,000,000,000 |
29,000,000,000 |
29,000,000,000 |
|
Capital Surplus |
27,775,136,689 |
27,775,136,689 |
27,775,136,689 |
|
Profit Surplus |
28,947,482,007 |
32,351,491,807 |
37,092,677,279 |
|
Total Equity |
85,722,618,696 |
89,126,628,496 |
93,867,813,968 |
|
Liab. & Shareholder’s Equity |
213,284,048,498 |
220,176,092,738 |
208,979,642,378 |
|
Income Statement |
|||
|
Unit : Korean
Won |
01/01/2014~03/31/2014 |
As of
12/31/2013 |
As of
12/31/2012 |
|
Sales |
59,404,397,291 |
222,784,416,084 |
230,187,953,140 |
|
Cost of Sold Goods |
56,403,556,137 |
203,457,908,302 |
204,659,372,074 |
|
Gross Profit |
3,000,841,154 |
19,326,507,782 |
25,528,581,066 |
|
Selling & Admin. Expenses |
5,312,294,659 |
17,817,982,750 |
15,219,064,099 |
|
Operating Income |
-2,311,453,505 |
1,508,525,032 |
10,309,516,967 |
|
Other Income |
636,922,474 |
2,364,776,490 |
1,991,630,936 |
|
Other Expenses |
651,704,353 |
1,906,251,323 |
1,485,833,575 |
|
Finance Income |
9,806,995 |
30,403,101 |
28,471,194 |
|
Finance Expenses |
937,261,462 |
3,214,454,374 |
3,361,305,733 |
|
Profits from Acquisition |
|
|
2,329,988,589 |
|
Income Before Taxes |
-3,253,689,851 |
-1,217,001,074 |
9,812,468,378 |
|
Income Taxes Expenses |
|
1,681,847,304 |
898,869,363 |
|
Net Income |
-3,253,689,851 |
-2,898,848,378 |
8,913,599,015 |
|
Cash Flows |
|||
|
Unit : Korean
Won |
01/01/2014~03/31/2014 |
As of
12/31/2013 |
As of
12/31/2012 |
|
Operating Activities Cash Flows |
5,504,815,200 |
-5,745,051,367 |
-8,520,326,944 |
|
Net Income |
-3,253,689,851 |
-2,898,848,378 |
8,913,599,015 |
|
Adjustment |
4,348,273,997 |
16,347,272,595 |
12,324,056,684 |
|
Changes in Asset/ & Liability |
4,411,590,484 |
-16,872,741,034 |
-28,138,345,173 |
|
Income Taxes |
-1,359,430 |
-2,320,734,550 |
-1,619,637,470 |
|
Cash Flows from Investing |
-668,631,377 |
-6,097,303,111 |
-15,240,818,856 |
|
Cash Flows from Financing |
-2,208,878,284 |
11,844,973,126 |
25,593,440,072 |
|
Increase/Decrease in Cash |
2,627,305,539 |
2,618,648 |
1,832,294,272 |
|
Cash at the Beginning of Year |
6,646,767,648 |
6,644,048,525 |
4,860,915,716 |
|
Cash at the End of Year |
-28,938,035 |
100,475 |
-49,161,463 |
Products,
Technologies, Services Description
|
Main Products
& Services |
POM Copolymer Resin, PA6(Nylon6) Resin, PA66(Nylon66) Resin, PBT Resin PEL Resin, PET Copolymer Resin Brand Name : KOCETAL®, KOPA®, SPESIN®, KOPEL®, KOPET® ,
SPELLOY®, KOLEFIN®, NOPLA®, ViTRET® |
|
Detailed
Products Spec. |
|
|
Technologies
Acquired |
|
Trade Partners &
Competitors
|
Suppliers |
KOLON
INDUSTRIES INC.(110111-0030528) |
|
Customers |
|
|
Competitors |
DONGSUNG
CHEMICAL CO., LTD. 472, SINPYEONG
1-DONG, SAHA-GU, BUSAN, KOREA TEL:+82-51-200-4500 FAX:+82-51-204-5636 KYUNG WON NEW
MATERIALS INC. 329-1, BOCHE-RI,
MIYANG-MYEON, ANSEONG-SI, GYEONGGI-DO, KOREA TEL:+82-31-677-7411~5 FAX:+82-31-677-7410 JINDO CHEMICAL
CO., LTD. 1MA-210, SIHWA
INDUSTRIAL COMPLEX, 1352, JEONGWANG-DONG, SIHEUNG-SI, GYEONGGI-DO, KOREA TEL:+82-31-499-9933 FAX:+82-31-499-9937 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates-Domestic |
KOLON PHARMACEUTICAL CO., LTD.(110111-0256259) KOLON
CORPORATION(110111-0030528) KTP INDUSTRIES INC.(171311-0003504) KOLON GLOTECH INC. (110111-0524838) KOLON FASHION CORPORATION(110111-2127292) NEOVIEWKOLON CO., LTD (134211-0040660) KF&T INDUSTRIES INC.(230111-0091824) KOLON PLASTICS INC.(171311-0003504) KOLON LIFE SCIENCE CO., LTD.(110111-1948277) CELLVIC DEVELOPMENT CORPORATION(131111-0031292) CRYOTECH CO., LTD.(191211-0010226) KOLON FASHION MATERIAL INC.(135311-0011139) KOLON EVERAY CO., LTD.(176011-0054417) FNC KOLON CORP.(110111-0003973) CAMBRIDGE MEMBERS CO., LTD.(134111-0000517) KOLONWELLCARE CO., LTD.(110111-2930299) SWEET MEAL CO., LTD.(110111-2925604) SURPLUS GLOBAL, INC.(110111-1921140) KOLON MOTORS CO., LTD.(131111-0209708) KOLON ENGINEERING & CONSTRUCTION CO., LTD.(110111-0036502) KOLON CONSTRUCTION & CONSULTING CO., LTD.(170111-0230756) I PACIFIC PARTNERS INC.(110111-1902786) KOLON I' NETWORKS CORP.(110111-0712350) DEOK PYEONG LAND CO., LTD.(134411-0024149) KOLON ENVIRONMENTAL SERVICE CO., LTD.(135311-0005893) GREEN NARAE INC(161511-0078133) KESCO LANDSCAPE CO., LTD.(135311-0009572) KOLON BENIT CO., LTD.(135311-0003920) MAUNA OCEAN DEVELOPMENT CO., LTD.(171211-0045128) EFMC (ENVIRONMENTAL FACILITIES MANAGEMENT CORPORATION
110111-1458739 ) ENVY SYSTEM INC.(110111-1028798) GREEN HWASUN INC.(160111-0199459) GREEN GYEONGSAN INC.(160111-0203622) GREEN SUNCHANG INC.(160111-0134942) ON ORGANICNANO ELECTROIC SYSEMS INC.(200111-0255228) KOREA EPLATFORM CO., LTD.(110111-2008921) |
|
Affiliates-Overseas |
PT. KOLON INA KOLON USA INC. TISSUEGENE
INC. QINGDAO KOLON
GLOTECH INC. KOLON NANJING
CO., LTD. ZHANGJIAGANG
KOLON GLOTECH INC. PT. KOLON
LANGGENG BEIJING KOLON
GLOTECH, INC. KOLON GP
CHEMICAL (SUZHOU) CO., LTD. KOLON
INT'L(H.K) LTD. KOLON IMPERIAL
GRAPHICS PLC. IMPERIAL
GRAPHICS GROUP SERVICES LTD. IMPERIAL
GRAPHICS PRODUCTS LTD. KOLON(U.K)
LTD. BEIJING MI JO
DESIGN CO., LTD. KOLON GLOTECH
U.S.A. CORP. FNC KOLON
SHANGHAI CORP. FNC KOLON USA CORP. KOLON PLASTICS (BEIJING), INC. (90.00% held by the subject company) |
|
Overseas
Office |
|
|
Liaison Office |
|
|
Overseas
Branch |
|
|
Joint Venture |
|
|
Subsidiary |
|
|
Corporate
Ownership |
KOLON CORPORATION(110111-0030528) KOLON
INDUSTRIES INC.(135311-0013606) |
|
Major
Shareholders |
KOLON
INDUSTRIES INC.(135311-0013606) |
|
Cooperative
Enterprise |
-Insured
Company SAMSUNG FIRE & MARINE INSURANCE CO., LTD.(110111-0005078) SAMSUNG LIFE INSURANCE CO., LTD.(110111-0005953) -Technical support from TORAY
INDUSTRIES, INC.(JAPAN) |
Sales by Region
(Activity & Markets)
Not Available.
Court Action
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.26 |
|
|
1 |
Rs.99.63 |
|
Euro |
1 |
Rs.80.59 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIS |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to
overcome financial difficulties seems comparatively below average. |
Small |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
|
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.